New Fortress Energy Inc. operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide. The company operates in two segments, Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment engages in the natural gas procurement and liquefaction; and logistics, shipping, facilities and conversion, or development of natural gas-fired power generation. The Ships …
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Competitive advantage assessment
Key risks
Margin Pressure from Rate CasesRegulated margin level is weak (score 0.00), which may signal regulatory headwinds.
Below-Allowed ROEReturn on equity is weak vs peers (score 0.00), implying the company may not be earning its allowed return.
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
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New Fortress Energy Inc. ranks #16 of 16
scored companies in Utilities - Regulated Gas by moat score — the top 100%.
The widest moat in the group is Atmos Energy Corporation (ATO)
at 70/100.
Moat scores for companies ranked near NFE in Utilities - Regulated Gas
How NFE scores on the Regulated Utilities defenses
Regulatory Franchise
Score 0
· 25% of the moat score
The franchise is the moat, granted rather than earned: an exclusive right to serve a territory in exchange for regulated prices and an obligation to supply.
Rate-Base Return Quality
Score 0
· 20% of the moat score
A utility earns an allowed return on the capital invested in its network, the rate base.
Dividend Sustainability
Score 7
· 18% of the moat score
Utilities are owned largely for income, and the dividend is only as safe as the operating cash flow behind it.
Capital Structure Discipline
Score 0
· 17% of the moat score
Regulated utilities carry more debt than almost any other sector, which suits how predictable their revenue is but makes credit quality a core competitive asset.
Operational Efficiency
Score 0
· 12% of the moat score
Efficiency is unusually consequential under regulation.
Essential Service Resilience
Score 0
· 8% of the moat score
Electricity, gas and water are bought in a recession at close to the volume bought in an expansion, which is why utility revenue barely tracks the economic cycle.
New Fortress Energy Inc. (NFE) scores 1 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as weak. It ranks #16 of 16 scored companies in Utilities - Regulated Gas, the top 100%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 16 companies in Utilities - Regulated Gas. Its strongest defense is Dividend Sustainability (7/100) and its weakest is Regulatory Franchise (0/100).
How does New Fortress Energy Inc. compare with other Utilities - Regulated Gas companies?
New Fortress Energy Inc. ranks #16 of 16 scored companies in Utilities - Regulated Gas by moat score. The widest moat in Utilities - Regulated Gas is Atmos Energy Corporation (ATO) at 70/100. The companies ranked closest are Centuri Holdings, Inc. (CTRI) at 33 just above it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Regulated Utilities in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 16 companies in Utilities - Regulated Gas. The defenses are then weighted to produce the overall score out of 100.
Why is New Fortress Energy Inc. scored with the Regulated Utilities template?
A regulated utility is a legal monopoly whose prices are set by a regulator rather than by a market. It cannot raise prices at will and it cannot be undercut, so most of the usual questions about competitive advantage barely apply. What matters is the quality of the regulatory bargain: whether the company earns the return it is allowed, funds its capital programme cheaply, and sustains the dividend investors own it for.
Which competitive defenses are measured for New Fortress Energy Inc.?
The Regulated Utilities template measures 6 defenses, and NFE scores: Regulatory Franchise (0), Rate-Base Return Quality (0), Dividend Sustainability (7), Capital Structure Discipline (0), Operational Efficiency (0), Essential Service Resilience (0). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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